ChainCatcher report, according to The Block, the Linux Foundation has officially established the x402 Foundation, with a governance structure comprising 40 member companies, and Coinbase has completed its contribution to the protocol. Founding members include Ripple, Visa, Mastercard, American Express, Stripe, Adyen, Fiserv, Shopify, Google, AWS, Cloudflare, as well as Circle, MoonPay, the Solana Foundation, and the Stellar Foundation. The protocol enables servers to respond to requests with a 402 status code and a price; clients then sign a stablecoin transfer (typically USDC) and resend the request to retrieve data—without requiring an account, credit card, or any pre-existing relationship between parties—making it naturally suited for AI agent applications. Earlier in April, it was reported that x402, a neutral internet payment protocol incubated by Coinbase, would transition under the Linux Foundation and operate as an independent entity called the “x402 Foundation.”
The Linux Foundation launches the x402 Foundation with Visa, Mastercard among its founding members.
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Summary
The Linux Foundation has launched the x402 Foundation, a new open-source initiative supported by 40 member companies. Founding members include Visa, Mastercard, Ripple, Stripe, Google, and Coinbase. The x402 protocol update enables servers to return a 402 status code along with pricing information, allowing clients to pay using stablecoins such as USDC and resubmit their requests. This protocol is well-suited for AI agent use cases. The project, originally developed by Coinbase, now operates under the Linux Foundation as part of ongoing developments in the crypto space.
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